Consumers aren’t the only ones assigned a credit score. Businesses also have credit scores, and creditors and other third parties use them to evaluate their financial health. To decide whether to extend a loan to a business and determine its terms, a lender pulls the business’s credit score. It’s…
The process of buying a home can be both exciting and intimidating. In addition to figuring out how to leave your current home, choosing where you want to live, and finding a lender, you will also need to figure out how to move. As a result of the sheer number…
Lenders don’t give away money for free. As nice as that might be for those receiving the loan, that’s not how loans work. It costs money to borrow money. This cost is known as the annual percentage rate (APR). An APR is a measure used to determine how much a…
Understanding how your credit score is calculated is important. Although you may be familiar with FICO® Scores – the scores used by more than 90% of top lenders, according to FICO® – do you know how they are calculated? A FICO® score ranges from 300 to 850 and is used…
You probably already know that a decent credit score can help you get approved for credit cards, loans, and other financial products. The better your credit score, the more likely you are to be approved. In addition, you can save a lot of money by building a good credit score.…
Now is the time to protect yourself from account fraud and identity theft, which can severely damage your credit and finances. To better protect your money and identity, you don’t have to be an expert in finance or cybersecurity. You can implement these four realistic anti-fraud measures immediately to protect…
In the United States, medical costs are a major problem. The average American spends more than $10,000 a year on medical care, and one in five Americans reports difficulty paying their medical bills. Medical debt can affect more than just your bank account. It can also negatively affect your credit…
Paying off your debt has many benefits. With time, your financial obligations and the size of your monthly payments may shrink. You can use the extra cash for investing, saving, or just having fun. Paying off your debts on time can even improve your credit score. What is the best…
It may seem complicated to build a strong credit score, but it often involves making informed choices and avoiding common pitfalls. You may be lowering your credit score without realizing it if you don’t know what behaviours to avoid. Don’t let unintended mistakes damage your credit. Here are seven common…
Credit cards that offer strong balance transfer offers can help cardholders with high interest rates pay down their debt faster and more affordably. The concept is simple: you transfer your existing credit card debt to a new card with a lower interest rate, with the intention of repaying your debt…
Mortgage rates, the amount of interest that lenders charge on home loans, are important to pay close attention to when you’re shopping for a home. Despite being a small percentage, the mortgage rate directly affects the amount you pay each month and how much you’ll pay over the life of…
Your credit report should contain accurate and fair information. Ultimately, it determines your credit score and helps lenders, creditors, and other companies determine whether to do business with you. Inaccuracies in credit reports are unfortunately very common. In 2013, the FTC reported that one in five Americans discovered an inaccuracy…
Your credit card can be a useful tool for personal finance if you use it correctly. You can use credit cards to pay for everyday purchases, build your credit score, and earn valuable rewards. If you use your credit card improperly, you can easily damage your credit and fall into…
Most credit card companies emphasize their showier benefits, such as cash back rewards or airline miles, to bring in new customers. Some credit cards provide much more than that, offering their customers a wide range of valuable benefits. If you only pay attention to your credit card’s surface level perks,…
Receiving an unexpected call from a debt collector can be intimidating. Often, debt collectors will try to pressure you into paying them immediately over the phone. Although you may be drowning in debt, you have rights when a debt collector calls, and you should always exercise your rights before you…
You may wonder why the credit card issuer is contacting you if you’ve ever received a credit card pre-approval offer in the mail. How do they know you’d be a good customer? And why are they extending you an offer without prompting? Are these offers guaranteed? Credit card preapprovals are…
Responsible use of a credit card is one of the best ways to build credit. Your credit score can be improved by maintaining a low balance and making your payments on time. However, if you already have bad credit, getting a credit card can be difficult. Secured and unsecured credit…
Your credit report is primarily intended to demonstrate your creditworthiness to lenders and creditors. Your credit report allows companies to decide whether you are eligible for a loan or credit card based on your credit report. However, lenders and credit card companies aren’t the only ones who can pull your…
Bankruptcy can be an escape route if you’re drowning in debt. Bankruptcy can give you some financial relief by allowing you to discard or repay debts, but it can also severely damage your credit, causing your score to plummet. Bankruptcy is unfortunately surrounded by a number of misconceptions and myths.…
You might believe you’re stuck with the terms of your current credit card if you’re unhappy with them. But credit card companies will often negotiate certain terms, especially if you’re a good customer or have special circumstances. Here are five things you can negotiate with your credit card company. 1.…
It’s a good idea to review your credit before applying for a credit card, in order to identify areas for improvement. The reason is that a better credit score can help you get lower interest rates, higher credit limits, and better credit cards. Whether you’re applying for your first credit…
You could lose a lot of money if you are unfamiliar with your credit report. Your credit report determines your ability to qualify for credit cards, loans, and even employment in some cases. Having negative information on your credit report can hurt your credit score and prevent you from obtaining…
A lack of credit history makes it difficult to get credit cards and loans, which are ironically the tools you need to build credit. If you don’t provide lenders with any past information, they can’t determine how you’ll handle debt. This is a common challenge for young people and anyone…
Credit cards are among the best tools available for building or improving credit when used correctly. Several of these factors are directly impacted by them, making them a good place to start if you want to improve your credit score. The following are four ways credit cards can improve your…
In many respects, the parental refrain “Do what I say, not what I do” isn’t a wise one, but especially when discussing finances with your children. You may be teaching your children bad money habits if you rack up credit card debt you can’t afford. It can be confusing to…
Credit Report Basics Your credit report contains details about your financial behavior and identification information. Credit history or a credit report refer to this user-friendly report. Credit reporting agencies gather and organize data about your credit history from your creditors and public records. Your credit report is available to…
The burden of medical debt weighs heavily on the credit scores of millions of Americans, even though this debt may arise from a single incident related to a critical health problem. Since the start of the pandemic, concern over the impact of this debt has only grown. Now, the…
When used correctly, credit cards can help build credit. You may have trouble getting approved if you have bad credit or thin credit history. It’s a classic catch-22. Secured credit cards are designed specifically for people in your situation. Unlike traditional credit cards, these cards have a few quirks, but…
Shopping online is convenient and offers great deals, but it leaves you vulnerable to hackers and data breaches. Criminals are constantly trying to hack into the databases of online retailers to access consumers’ personal information and credit card information. It is important to protect yourself online, and that includes determining…
Parents in the United States are receiving monthly payments as an advance on 50% of this year’s child tax credit. For each child under age 6 and each child between 6 and 17, families may receive up to $300 per month, depending on their income. The payments run from July…
Unless there is a new stimulus bill or executive action to renew the temporary protections put in place last year, landlords will be able to evict tenants for non-payment of rent beginning July 31. As a result, millions of Americans may be at risk of missing rent payments or facing…
Many credit cards offer introductory balance transfer offers to entice customers with existing credit card debt to switch. Generally, new cardholders can transfer their existing credit card debt to a new card with a low interest rate for a limited time. Theoretically, this would allow you to avoid interest and…
When you’re trying to pay off several debts at once, it can be difficult to make progress. Being diligent is essential when paying off several debts at once. Debts with high interest rates usually take longer to pay off because they accrue so much interest each month. Consolidating your debt…
One of the most damaging things that can happen to your credit is filing for bankruptcy. Once a bankruptcy appears on your credit report, it can negatively impact your credit score for years. Chapter 7 bankruptcy stays on your credit report for 10 years, while Chapter 13 bankruptcy stays on…
Rent used to only affect your credit score if you missed a monthly payment. When you apply for a mortgage, missing the rent reflects negatively on your credit report. Due to recent changes made by the federal government, mortgage finance giant Fannie Mae now allows on-time rental payments to…
The minimum payment on your credit card statement is one of the most critical numbers you need to pay attention to when it comes to your bills. When you carry a balance on your credit card, the card issuer will determine a minimum payment you must make to maintain good…
Gifts, food, and travel costs can all add up quickly during the holidays. It can be detrimental to your credit score, however, if you charge all your expenses to a credit card and plan to pay it off later. Use your credit card wisely this holiday season. Here’s how holiday…
You can now pay a friend back more easily than ever before. Thanks to apps such as Venmo and PayPal, sending money from one place to another is as easy as clicking a button. It is for this reason that money transfer apps have become one of the most popular…
In the midst of the holiday rush, it’s easy to forget that 2022 is right around the corner. With the New Year comes new resolutions. It’s time to start paying attention to your credit score if you want to tap into the hot housing market, buy a new car or…
American students face a significant financial burden due to student loans. According to the Federal Reserve, Americans owed $1.73 trillion in student debt in the second quarter of last year. When you’re a college graduate, large student loan payments can make it difficult to pay your bills and establish financial…
Changing your bank account cold turkey isn’t a bad idea if you’re trying to curb overspending or relocating. However, you don’t want your credit scores to suffer if you say goodbye to your bank, do you? Maintaining good credit scores on your credit reports can’t be wasted like that! Improve…
Subscribe to our powerful Credit Healing Engine & System Software and receive a guaranteed free 4 day & 3 night resort vacation!
